Fraud Friday – Diversity Style


September 13, 2013

By Bob Coleman
Editor, Coleman Report

A Rhode Island woman has plead guilty to one count of bank fraud for ripping off Rockland Trust Company of more than $5 million with the easy photo shopped invoice scam.

According to court documents, in the spring of 2011, Lim and her company, CompUtopia were informed that the line of credit would no longer be carried by Citizens Bank and that CompUtopia was required to seek funding elsewhere.

The FBI says Lim devised a scheme to obtain the funding from Rockland Trust Company by providing false, fraudulent and fictitious information and documentation.

Court documents allege that Lim falsely stated CompUtopia’s accounts receivables as $7,066,268.04, when in fact, CompUtopia’s accounts receivables were substantially less. In June 2011, based on the information and documents provided to Rockland Trust Company, the bank deposited $4,878,378.85 in an account that benefited CompUtopia. In April 2012, the Rockland Trust Company loan was increased to $5,350,000.

CompUtopia filed bankruptcy in June 2012.

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